One wouldn’t think going from Fed chairperson to head of the Treasury would be that big a leap but Ms. Yellen seems to have forgotten the importance of parsing one’s words. (Her and Jerome have each other’s mobile #’s no?) Some confusing commentary seemed to derail the market’s move higher yesterday, although key resistance on futures not holding did contribute to the fail. Today’s initial jump lent new meaning to the axiom that the first move is the wrong one, but it was far from the only one…
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